Diversified Trust Co Sells 13,127 Shares of Mplx Lp (MPLX)
Diversified Trust Co cut its stake in Mplx Lp (NYSE:MPLX) by 19.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 55,306 shares of the pipeline company’s stock after selling 13,127 shares during the quarter. Diversified Trust Co’s holdings in Mplx were worth $1,962,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. Optimum Investment Advisors boosted its holdings in Mplx by 0.3% in the second quarter. Optimum Investment Advisors now owns 7,654 shares of the pipeline company’s stock valued at $256,000 after purchasing an additional 21 shares during the period. CNH Partners LLC boosted its holdings in Mplx by 0.4% in the second quarter. CNH Partners LLC now owns 23,115 shares of the pipeline company’s stock valued at $772,000 after purchasing an additional 100 shares during the period. M&T Bank Corp boosted its holdings in Mplx by 0.3% in the second quarter. M&T Bank Corp now owns 59,573 shares of the pipeline company’s stock valued at $1,990,000 after purchasing an additional 166 shares during the period. Advisory Services Network LLC boosted its holdings in Mplx by 2.3% in the second quarter. Advisory Services Network LLC now owns 9,363 shares of the pipeline company’s stock valued at $313,000 after purchasing an additional 213 shares during the period. Finally, IHT Wealth Management LLC purchased a new position in Mplx in the second quarter valued at $1,229,000. Hedge funds and other institutional investors own 64.27% of the company’s stock.
MPLX has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed a “buy” rating and set a $46.00 price target on shares of Mplx in a report on Wednesday, November 15th. Scotiabank reaffirmed a “buy” rating and set a $44.00 price target on shares of Mplx in a report on Wednesday, October 4th. Zacks Investment Research downgraded Mplx from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. UBS Group lifted their price target on Mplx from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Finally, Credit Suisse Group initiated coverage on Mplx in a report on Thursday, January 4th. They set an “outperform” rating and a $43.00 price target for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. Mplx currently has an average rating of “Buy” and a consensus price target of $41.67.
Mplx (NYSE:MPLX) last released its earnings results on Thursday, October 26th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Mplx had a return on equity of 5.87% and a net margin of 16.79%. The company had revenue of $980.00 million for the quarter, compared to analysts’ expectations of $965.07 million. During the same quarter in the previous year, the firm posted $0.21 EPS. The firm’s quarterly revenue was up 16.9% on a year-over-year basis. equities research analysts predict that Mplx Lp will post 1.08 earnings per share for the current year.
In other Mplx news, VP Gregory Scott Floerke sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $37.00, for a total transaction of $74,000.00. Following the transaction, the vice president now owns 77,598 shares in the company, valued at approximately $2,871,126. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 8,000 shares of company stock worth $284,760 in the last quarter.
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Mplx Company Profile
MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering, transportation and storage of crude oil and refined petroleum products.
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